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Technology Stocks : Softbank Group Corp

SFTBY 81.06

-8.3%

3:59 PM EST

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To: Nihon-jin who started this subject	6/30/2000 1:47:35 AM
From: Anchan	Read Replies (1) of 6018

Softbank into straight retail-banking? Friday, June 30, 2000 NCB Successor Bank To Offer 12-Hour Daily Service TOKYO (Nikkei)--The three-company alliance expected to take over the operations of failed Nippon Credit Bank will seek to attract customers by opening the new bank's outlets for 12 hours a day from 8 a.m. to 8 p.m., it was learned Friday. The strategy may force Japanese commercial banks, which close their counters at 3 p.m., to reconsider their operating hours. On Friday, the Financial Reconstruction Commission is expected to official approve the transfer of NCB's operations to Softbank Corp. (9984), Orix Corp. (8591), and Tokio Marine & Fire Insurance Co. (8751). The final takeover contract between the new bank, the alliance and the Deposit Insurance Corp. will be signed later on Friday. The new bank will start operations in August with only 18 branches, far fewer than its rivals. It hopes to make up for this disadvantage by making banking more convenient for customers. Some regional financial institutions used to remain open after 3 p.m., but the need to restructure prompted them to restore the 3 p.m. closings. (The Nihon Keizai Shimbun Friday evening edition)

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